California Form 541-A - Trust Accumulation Of Charitable Amounts - 2012 Page 3
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3Instructions for Form 541-A
Trust Accumulation of Charitable Amounts
References in these instructions are to the Internal Revenue Code (IRC) as of January 1, 2009, and to the California Revenue and Taxation Code (R&TC).
General Information
A split-interest trust is a trust which:
If the “Yes” box is checked, the fiduciary is
authorizing the FTB to call the paid preparer
• Is not exempt from taxation under
In general, for taxable years beginning on or
to answer any questions that may arise during
R&TC Section 23701d.
after January 1, 2010, California law conforms
the processing of its tax return. The fiduciary is
• Has some of the unexpired interests devoted
to the Internal Revenue Code (IRC) as of
also authorizing the paid preparer to:
to one or more charitable purposes as
January 1, 2009. However, there are continuing
described in IRC Section 170(c).
• Give the FTB any information that is missing
differences between California and federal
• Has amounts in trust for which a charitable
from the return.
law. When California conforms to federal tax
contributions deduction was allowed under
• Call the FTB for information about the
law changes, we do not always adopt all of
the R&TC. Pooled income funds, IRC
processing of the return or the status of any
the changes made at the federal level. For
Section 642(c)(5); charitable remainder
related refund or payments.
more information, go to ftb.ca.gov and search
annuity trusts, IRC Section 664(d)(1); and
• Respond to certain FTB notices about math
for conformity. Additional information can
remainder unitrusts, IRC Section 664(d)(2)
errors, offsets, and return preparation.
be found in FTB Pub. 1001, Supplemental
are split-interest trusts.
Guidelines to California Adjustments, the
The fiduciary is not authorizing the paid
Simple trusts which received a letter from the
preparer to receive any refund check, bind
instructions for California Schedule CA (540 or
Franchise Tax Board (FTB) granting exemption
the trust to anything (including any additional
540NR), and the Business Entity tax booklets.
from tax under R&TC Section 23701d
tax liability), or otherwise represent the trust
The instructions provided with California tax
are considered to be corporations for tax
before the FTB.
forms are a summary of California tax law
purposes. The trust may be required to file
The authorization will automatically end no
and are only intended to aid taxpayers in
Form 199, California Exempt Organization
preparing their state income tax returns. We
later than the due date (without regard to
Annual Information Return.
include information that is most useful to the
extensions) for filing the trust’s 2013 tax
Nonexempt charitable trusts, described in IRC
return. If the trust wants to expand the paid
greatest number of taxpayers in the limited
Section 4947(a)(1), must file Form 199.
preparer’s authorization, get form FTB 3520,
space available. It is not possible to include
all requirements of the California Revenue
Power of Attorney Declaration for the Franchise
C When to File
and Taxation Code (R&TC) in the tax booklets.
Tax Board. If the trust wants to revoke the
Taxpayers should not consider the tax booklets
authorization before it ends, notify the FTB in
File Form 541-A on or before April 15, 2013.
writing or call 800.852.5711.
as authoritative law.
If you need additional time to file, California
grants an automatic six-month extension. If
A Purpose
the tax return is filed by October 15, 2013, the
Specific Instructions
Use Form 541-A, Trust Accumulation of
extension will apply.
Charitable Amounts, to report a charitable or
Private Mail Box (PMB)
D Where to File
other deduction under IRC Section 642(c).
Include the PMB in the address field. Write the
“PMB” first, then the box number.
Mail Form 541-A to:
Split-interest trusts described in IRC
Example: 111 Main Street PMB 123.
Section 4947(a)(2) no longer file Form 541-A.
FRANCHISE TAX BOARD
Form 541-B, Charitable Remainder and Pooled
PO BOX 942840
Part II and Part III
Income Trusts, meets R&TC Section 18635
SACRAMENTO CA 94240-0001
Attach a statement describing in detail the
filing requirements for split-interest trusts. For
E Internet Access
purpose for which charitable disbursements
more information, go to ftb.ca.gov, and search
were made from income set aside in prior
for 541-B instructions.
You can download, view, and print California
taxable years and amounts which were paid
tax forms and publications at ftb.ca.gov.
B Who Must File
out of principal for charitable purposes.
F Signatures
Examples of appropriate descriptions are:
A trustee must file a calendar year Form 541-A
for a trust that claims a charitable or other
The fiduciary or officer representing the
• Payments for nursing service.
deduction under IRC Section 642(c). Do not
fiduciary must sign Form 541-A. Any person
• Laboratory construction.
file Form 541-A if the following exceptions
preparing the fiduciary’s tax return for
• Fellowships.
apply:
compensation, who is not a regular full-time
• Assistance to indigent families (not simply
employee of the fiduciary, must also sign
• The trustee is required by the terms of the
charitable, educational, religious, or
Form 541-A.
governing instrument and applicable local
scientific).
law to currently distribute all of the income.
Third Party Designee
Part IV
• The trust is a charitable trust described in
If the fiduciary wants to allow the FTB to
IRC Section 4947(a)(1).
If the balance sheet does not agree with the
discuss its 2012 tax return with the paid
• The trust is a split-interest trust described in
books of account, all differences must be
preparer who signed it, check the “Yes” box
IRC Section 4947(a)(2).
reconciled in an attached statement.
in the signature area of the tax return. This
A charitable trust is a trust which:
authorization applies only to the individual
whose signature appears in the “Paid
• Is not exempt from taxation under R&TC
Preparer’s Use Only” section of the return. It
Section 23701d.
does not apply to the firm, if any, shown in that
• Has all the unexpired interests devoted
section.
to charitable purposes described in IRC
Section 170(c).
• Had a charitable contribution deduction
allowed for all the unexpired interests under
the R&TC.
Form 541-A Instructions 2012
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